I have been a reader of GRS for a while now but only just joined this forum. I was wondering if anyone would be able to advise me on my finances as I find I'm a little stuck as to how I can further them.

This is England specific so if any readers are from England or know about finance in England I'd greatly appreciate it.

The rate of my ISA has dropped from 6.25 % - 1.55 %. It is however tax free and only £3600 can be deposited a year.

As a student working part time I earn less than £6035 a year and therefore have a tax-free status so all of my savings accounts pay gross interest. Since this is the case I wonder whether it's worth pulling out all of my funds from my ISA and moving it into a fixed bond of which I can get about 3.5%.

The thing is that I will graduate in June 2010 and hopefully get a job. As a result I will start getting taxed so I'm wondering whether to leave my ISA alone.

I am currently 20, researching investing in index funds (and I do want to invest early to make the most of compounding) but I don't want to invest until I am in a stable job because as a student I really don't want to risk any of my capital.

Can anyone recommend how I can further my money? I am also expecting my wages soon and my final loan installment will arrive at the end of April.

Any suggestions will be greatly appreciated.

Mo118

_________________"A bank is an organisation that will only lend you an umbrella when the sun is shining."

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